To be more specific our mid score is a 538. Please someone tell me they can help. We already have an accepted offer and the industry crashed now we are searching for alternate financing.
With the recent subprime mortgage craze is there anyone who will still give a 100% ltv loan with ok credit?
I wish I knew where to tell you to look, but with a credit score of 538, I would be very surprised if you could find 100% financing anywhere.
One of the problems that the sub-prime lenders had was a lot of appraisers that were saying the houses were worth more than they really were. Add that to people signing up for adjustable rate mortgages and the housing market turning flat and you have a lot of people that thought they could refinance at a later date at a flat rate due to their home being worth more money. It did not happen and now thousands of people are losing their homes.
Don't get me wrong, the sub-prime market will never go away, it will just pull back a little and demand more money down and better appraisals.
With the recent subprime mortgage craze is there anyone who will still give a 100% ltv loan with ok credit?
With a credit score like 538, probably not. But, if you can get your credit score up to the mid or upper 600s, then you can try to get an 80/20 loan. 80% of the money in the form of a 1st Mortgage, conventional loan and 20% from a 2nd mortgage, usually a home equity loan.
With the recent subprime mortgage craze is there anyone who will still give a 100% ltv loan with ok credit?
Hi
the best thing to do with that is try for FHA where the buyer may have to pay 5 or 3 % of their funds try Ideal mortgage bank . com good luck also delta funding
With the recent subprime mortgage craze is there anyone who will still give a 100% ltv loan with ok credit?
I know a hardmoney lender that can likely help you. Fill out the free evaluation form at the source website. Good luck.
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